Title 43 — PROPERTY

The operational expenses for unclaimed property, including costs in connection with the sale of abandoned property, personnel, costs of mailing and publication, and service charges, must be paid from general appropriations in the general appropriations act. Source: SL 2024, ch 18…

The state investment officer shall calculate an amount equal to four percent of the market value of the trust fund for unclaimed property, without invading principal, as eligible for distribution to the general fund. Until fiscal year 2031, the distribution must be based on the m…

There is created in the state treasury the trust fund for unclaimed property. The fund consists of any net receipts from unclaimed property that exceed the maximum deposit requirements of §

Beginning in fiscal year 2026 and each fiscal year thereafter, the state treasurer shall, after paying from the unclaimed property operating fund all claims and any administrative costs associated with the sale of unclaimed property, deposit into the general fund the net receipts…

(a) A person, excluding another state, claiming an interest in any property paid or delivered to the administrator may file a claim on a form prescribed by the administrator and verified by the claimant. (b) The administrator shall consider each claim within one hundred eighty da…

(a) At any time after property has been paid or delivered to the administrator under this chapter another state may recover the property if: (1) The property was subjected to custody by this state because the records of the holder did not reflect the last known address of the app…

A person aggrieved by a decision of the administrator or whose claim has not been acted upon within ninety days after its filing may bring an action to establish the claim in the circuit court, naming the administrator as a defendant. The action must be brought within ninety days…

(a) The administrator may decline to receive any property reported under this chapter which he considers to have a value less than the expense of giving notice and of sale. If the administrator elects not to receive custody of the property, the holder shall be notified. (b) A hol…

If the administrator determines after investigation that any property delivered under this chapter has insubstantial commercial value, the administrator may destroy or otherwise dispose of the property at any time. No action or proceeding may be maintained against the state or an…

Unless otherwise provided in this chapter or by other statute of this state, intangible property is subject to the custody of this state as unclaimed property if the conditions raising a presumption of abandonment under §§ 43-41B-2 and 43-41B-5 to 43-41B-17 , inclusive, are satis…

(a) The expiration, before or after July 1, 1993, of any period of time specified by contract, statute, or court order, during which a claim for money or property can be made or during which an action or proceeding may be commenced or enforced to obtain payment of a claim for mon…

(a) The administrator may require any person who has not filed a report to file a verified report stating whether or not the person is holding any unclaimed property reportable or deliverable under this chapter. The administrator may contract with the Department of Revenue to con…

(a) Every holder required to file a report under § 43-41B-18 , as to any property for which it has obtained the last known address of the owner, shall maintain a record of the name and last known address of the owner for ten years after the property becomes reportable, except to …

The administrator may bring an action in a court of competent jurisdiction to enforce this chapter. Source: SL 1992, ch 312 , § 32.

(a) To avoid conflicts between the administrator's procedures and the procedures of administrators in other jurisdictions that enact the Uniform Unclaimed Property Act, the administrator, so far as is consistent with the purposes, policies, and provisions of this chapter, before …

A person who fails to pay or deliver property within the time prescribed by this chapter shall pay to the administrator interest at the Category A rate on the property or value thereof from the date the property should have been paid or delivered. Source: SL 1992, ch 312 , § 34.

All agreements to pay compensation to recover or assist in the recovery of property reported under § 43-41B-18 , made within twelve months prior to the reporting and remitting of abandoned property accounts and within twenty - four months after the date payment or delivery is mad…

(a) This chapter does not relieve a holder of a duty that arose before July 1, 1993, to report, pay, or deliver property. A holder who did not comply with the law in effect before July 1, 1993, is subject to the applicable enforcement and penalty provisions that then existed and …

The administrator may promulgate rules, pursuant to chapter 1-26 , to carry out the provisions of this chapter. Source: SL 1992, ch 312 , § 37. 43-41B-39. Rejected by special referendum election held November 3, 1998

43-41B-41 Rewards cards exempt. 43-41B-42 Unredeemed gift certificates, closed-loop cards, open-loop cards, and rewards cards not subject to state claim. 43-41B-43 Certain gift certificates and closed-loop prepaid cards exempt. 43-41B-44 United States savings bonds. 43-41B-45 Vir…

(a) Any sum payable on a travelers check that has been outstanding for more than fifteen years after its issuance is presumed abandoned unless the owner, within fifteen years, has communicated in writing with the issuer concerning it or otherwise indicated an interest as evidence…

The provisions of this chapter do not apply to open-loop prepaid cards for which the underlying funds do not expire and the records of the depository institution do not disclose the identity of the actual owner. For the purposes of this section, an open-loop prepaid card is an el…

Notwithstanding § 43-41B-40 , the provisions of this chapter do not apply to any rewards card. For the purposes of §§ 43-41B-40 to 43-41B-42 , inclusive, a rewards card is any awards, rewards, rebate, loyalty, incentive, or promotional card for which no money was paid by the card…

Any unredeemed gift certificate or closed-loop card that meets the requirements of § 43-41B-43 or any open-loop prepaid card or rewards card is subject only to any rights of a purchaser or owner of the gift certificate or card and is not subject to any claim made by any state act…

The provisions of this chapter do not apply to any gift certificate or closed-loop prepaid card that has no expiration date and that is not subject to a dormancy, inactivity, or service fee. For purposes of this chapter, a closed-loop prepaid card is an electronic payment device …

(a) Notwithstanding the provisions of §§ 43-41B-3 , 43-41B-14 , 43-41B-18 , 43-41B-19 , 43-41B-20 , 43-41B-21 , 43-41B-23 , and 43-41B-36 , United States savings bonds which are unclaimed property and subject to the provisions of chapter 43-41B shall escheat to this state three y…

Virtual currency is deemed abandoned three years after the latest indication of interest. The administrator may decline to accept virtual currency presumed abandoned if, in the administrator's discretion: (1) The virtual currency is not freely transferable; (2) The virtual curren…

(a) Any sum payable on a check, draft, or similar instrument, except those subject to § 43-41B-4 , on which a banking or financial organization is directly liable, including a cashier's check and a certified check, which has been outstanding for more than three years after it was…

(a) Any demand, savings, or matured time deposit with a banking or financial organization, including a deposit that is automatically renewable, and any funds paid toward the purchase of a share, a mutual investment certificate, or any other interest in a banking or financial orga…

(a) Funds held or owing under any life or endowment insurance policy or annuity contract that has matured or terminated are presumed abandoned if unclaimed for more than three years after the funds became due and payable as established from the records of the insurance company ho…

Any deposit, including any interest thereon, made by a subscriber with a utility to secure payment for or any sum paid in advance for utility services to be furnished in this state, less any lawful deductions, is presumed abandoned if it has remained unclaimed by the person appea…

Except to the extent otherwise ordered by the court or administrative agency, any sum that a business association has been ordered to refund by a court or administrative agency which has remained unclaimed by the owner for more than one year after it became payable in accordance …

Any property held by a museum or historical society in the state which is held for ten years or more and to which no person has made claim is deemed to be abandoned and becomes the property of the museum or society, if the museum or society has complied with §§ 43-41C-2 and

The museum or society shall publish a notice as a display advertisement entitled "Notice of Abandoned Property Held by a Museum or Historical Society" at least once each week for two successive weeks. The notice shall be published in a legal newspaper of general circulation of an…

The published notice required by § 43-41C-2 shall contain: (1) The name and last known address, if any, of the last known owner of property; (2) A description of the property; and (3) A statement that if proof of claim is not presented by the owner to the museum or society and if…

If no claim has been made to the property within sixty - five days from the date of the second published notice, title to the property vests in the museum or society, free from all claims of the owner and of all persons claiming through or under him. Source: SL 1993, ch 328 , § 4…

A thing in action is a right to recover money or other personal property by a judicial proceeding. Source: CivC 1877, § 360; CL 1887, § 2876; RCivC 1903, § 383; RC 1919, § 471; SDC 1939, § 51.0802.

A thing in action arising out of the violation of a right of property or out of an obligation may be transferred by the owner. Upon the death of the owner it passes to his personal representatives except where in the cases provided by law it passes to his devisees or successor in…

A nonnegotiable written contract for the payment of money or personal property may be transferred by endorsement in like manner with negotiable instruments. Such endorsement shall transfer all the rights of the assignor under the instrument to the assignee subject to all equities…

Every written assignment made in good faith, whether in the nature of a sale, pledge, or other transfer, of an account receivable or of an amount due or to become due on an open account or on a contract (all hereinafter called "account"), with or without the giving of notice of s…

In any case where, acting without knowledge of an assignment described by § 43-42-4 , the debtor in good faith pays all or part of such account to the assignor, or to such creditor, subsequent purchaser, or other assignee or transferee, such payment shall be acquittance to the de…

The author of any product of the mind, whether it is an invention or a composition in letters or arts or a design with or without delineation or other graphical representation, has an exclusive ownership therein and in the representation or expression thereof which continues so l…

Unless otherwise agreed a product of the mind, in the production of which several persons are jointly concerned, is owned by them as follows: (1) If the product is single, in equal proportions; or (2) If it is not single, in the proportion to the contribution of each. Source: Civ…

The owner of any product of the mind or of any representation or expression thereof may transfer his property in the same. Source: CivC 1877, § 572; CL 1887, § 3195; RCivC 1903, § 888; RC 1919, § 486; SDC 1939, § 51.0806.

If the owner of a product of the mind intentionally makes it public, a copy or reproduction may be made public by any person without responsibility to the owner so far as the law of this state is concerned. Source: CivC 1877, § 573; CL 1887, § 3196; RCivC 1903, § 889; RC 1919, § …

If the owner of a product of the mind does not make it public, any other person subsequently and originally producing the same thing has the same right therein as the prior author which right is exclusive to the same extent against all persons except the prior author or those cla…

Letters and other private communications in writing belong to the person to whom they are addressed and delivered; but they cannot be published against the will of the writer except by authority of law. Source: CivC 1877, § 575; CL 1887, § 3198; RCivC 1903, § 891; RC 1919, § 489;…

The term "owner," as used in this chapter, shall mean any person who owns the original fixation of sounds embodied in the master phonograph record, master disc, master tape, master wire, master film, or other device used for reproducing recorded sounds on phonograph records, disc…

Except as provided in § 43-43A-4 , or with the express consent of the owner, it is a Class 6 felony for any person to knowingly: (1) Transfer or cause to be transferred any sounds recorded on a phonograph record, disc, tape, wire, film, or other article on which sound is recorded…

It is a Class 6 felony for any person to distribute, advertise, circulate, sell, or offer for sale or possess for the purpose of sale, at wholesale or retail, any phonograph record, disc, tape, wire, film, or other article on which sounds have been transferred, unless such phonog…